The problem of nonlinear self-focusing of elliptic Gaussian laser beam in collisionless magnetized plasma is studied using variation approach. The dynamics of the combined effects of nonlinearity and spatial diffraction is presented. With a and b as the beam width parameters of the beam along x and y directions, respectively, the phenomenon of cross-focusing is observed where focusing of a results in defocusing of b and vice versa. Although no stationary self-trapping is observed, oscillatory self-trapping occurs far below the threshold. The regularized phase is always negative.